{"id":1004744363,"date":"2025-01-27T04:55:17","date_gmt":"2025-01-27T12:55:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004744363"},"modified":"2025-01-27T07:25:02","modified_gmt":"2025-01-27T15:25:02","slug":"harrison-street-raises-600m-for-digital-asset-investment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/harrison-street-raises-600m-for-digital-asset-investment\/","title":{"rendered":"Harrison Street Raises $600M for Data Center Investment \u00a0"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004744365\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/harrison-street-raises-600m-for-digital-asset-investment\/powerhouse-data-centers-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"PowerHouse-Data-Centers\" data-image-description=\"&lt;p&gt;Rendering of PowerHouse and Harrison Street&#8217;s data center project in Reno, Nev.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Harrison Street partnered with PowerHouse in January of last year to build a 900,000-square-foot data center in Reno, Nev. The project was estimated at $400 million at the time. Image courtesy of PowerHouse Data Centers&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg\" alt=\"Rendering of PowerHouse and Harrison Street's data center project in Reno, Nev.\" class=\"wp-image-1004744365\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Harrison Street partnered with PowerHouse in January of last year to build a 900,000-square-foot data center in Reno, Nev. The project was estimated at $400 million at the time. <em>Rendering courtesy of PowerHouse Data Centers<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Harrison Street has raised roughly $600 million across its HS Digital Fund and associated vehicles. This marks the company\u2019s first dedicated pool of capital for data center investment. <\/p>\n\n\n\n<p>The firm expanded its digital assets platform due to the surging data consumption, according to prepared remarks by Michael Hochanadel, managing director at Harrison Street.<\/p>\n\n\n\n<p>Over the past seven years, the firm has committed more than $5.6 billion to powered shells, carrier hotels and colocation sites, as well as dark fiber assets. Harrison Street invested in more than 24 digital assets encompassing about 6.5 million square feet of data centers and north of 2.1 gigawatts of capacity.<\/p>\n\n\n\n<p>Last May, the company acquired a 50-acre site in Irving, Texas, in partnership with PowerHouse. Plans call for the construction of a roughly <a href=\"https:\/\/www.commercialsearch.com\/news\/powerhouse-harrison-street-eye-dfw-data-center\/\">1 million-square-foot data center campus<\/a> with a capacity of 200 megawatts at full build-out.<\/p>\n\n\n\n<p>Five months earlier, the same joint venture closed on another site for a data center campus, this time in Reno, Nev. The stated goal was to construct a <a href=\"https:\/\/www.commercialsearch.com\/news\/powerhouse-secures-site-for-400m-data-center-campus\/\">900,000-square-foot facility<\/a> estimated at $400 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-data-center-development-grows-despite-energy-shortage\">Data center development grows despite energy shortage<\/h2>\n\n\n\n<p>The U.S. data center capacity is set to grow from 22 gigawatts in 2024 to 26 gigawatts in 2025, according to JLL&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/data-center-demand-continues-surge-despite-challenges\/\">Global Data Center Outlook<\/a>. This year, the company forecasts 4.4 gigawatts of new construction to break ground across the nation. \u00a0<\/p>\n\n\n\n<p>The strained power grid remains among the largest roadblocks for new data center developments. In Virginia alone, data centers represent more than 25 percent of the energy demand. A solution that gained traction is the implementation of <a href=\"https:\/\/www.commercialsearch.com\/news\/why-big-data-centers-are-going-nuclear\/\">nuclear energy for data centers<\/a>.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.commercialsearch.com\/news\/stargate-promises-big-data-center-development-but-obstacles-remain\/\">Stargate Project<\/a>, which aims to invest $500 billion over the next four years to build new OpenAI infrastructure across the U.S., could also use nuclear energy, according to <em>Bloomberg<\/em>. Of the investment pool, $100 billion is slated for immediate deployment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the firm&#8217;s first pool of capital dedicated to this sector.<\/p>\n","protected":false},"author":3471,"featured_media":1004744365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21783,23891,21742],"tags":[44141],"class_list":["post-1004744363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-investment","category-national","category-latest","tag-harrison-street"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Harrison Street Raises $600M for Data Center Investment \u00a0 - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Harrison Street raised $600 million to invest in digital assets across the HS Digital Fund and its associated vehicles.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/harrison-street-raises-600m-for-digital-asset-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harrison Street Raises $600M for Data Center Investment \u00a0\" \/>\n<meta property=\"og:description\" content=\"Harrison Street raised $600 million to invest in digital assets across the HS Digital Fund and its associated vehicles.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/harrison-street-raises-600m-for-digital-asset-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-27T12:55:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-27T15:25:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/PowerHouse-Data-Centers.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-raises-600m-for-digital-asset-investment\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-raises-600m-for-digital-asset-investment\/\",\"name\":\"Harrison Street Raises $600M for Data Center Investment \u00a0 - 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